NPR : News

Filed Under:

Growth In Incomes, Spending Slowed In 2012; Jobless Claims Jumped Last Week

Americans' personal incomes grew by 3.5 percent in 2012, compared with 5.1 percent growth the year before, the Bureau of Economic Analysis reports. And it says consumer spending rose 3.6 percent last year, vs. 5 percent in 2011.

But the year ended on one strong note: in December alone, incomes rose 2.6 percent from the month before. That's the biggest one-month rise in eight years, The Wall Street Journal says. Consumer spending was up 0.2 percent in December from November.

Also this morning, the Employment and Training Administration reported that there were 368,000 first-time claims for unemployment benefits last week. That's up 38,000 from the week before. The increase is from a five-year low and puts claims back at "levels consistent with modest job growth," Reuters writes.

The week's big economic indicator is due Friday at 8:30 a.m. ET. That's when the Bureau of Labor Statistics will issue its figures on job growth and unemployment in January. According to Bloomberg News, economists expect to hear that there were 165,000 jobs added to payrolls (vs. 155,000 in December) and that the unemployment rate remained unchanged at 7.8 percent.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

In An Alternate 19th Century London, Sins Are Marked With 'Smoke'

NPR's Audie Cornish speaks with Dan Vyleta about his novel, Smoke. It's set in an alternate 19th century London, where the morally corrupt are marked by a smoke that pours from their bodies.
WAMU 88.5

D.C.'s Public Schools Select New Lunch Providers

D.C. Public Schools is abandoning longtime school food provider Chartwells in the wake of allegations of poor food quality and fraud and moving forward with new vendors for 2016. But, questions remain about the selection process and future oversight.

WAMU 88.5

Creating A D.C. State Constitution

We explore the historic process of crafting a constitution for D.C. statehood nearly three decades after the last attempt, and find out how drafters are preparing for the June constitutional convention.

NPR

$81 Million Bangladesh Bank Heist Sparks Push For Stepped-Up Cybersecurity

The head of the Society for Worldwide Interbank Financial Telecommunication acknowledged at least two security breaches in addition to February's spectacular theft involving Bangladesh's central bank.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.